Ep 147 Inverse head and shoulders
Ep 147 Inverse head and shoulders On the AUDUSD Wednesday daily candle you had a lower low than the day before and a higher close than the open, that is 2/3rds of an inverse head and shoulders pattern. So, we go down to the H1 chart and you can see you have your left shoulder followed by the head, so now we are waiting for right shoulder to form. Price comes back to the level and gives an entry signal.
Checking Forex Factory, we find there is an announcement on the USD. So that means no trading (my rules). I followed up with two more screen shots. You could have been in, out and happy but rules are rules.
So, it is the right shoulder you are looking for to form and an entry signal of a level.
This channel is here to help you look into the future and have an idea of what you are looking for and waiting for price to do its thing. It doesn’t matter when you watch these episodes the lesson will always be there. So, tell your friends, like, share, subscribe because this channel is here to help you.
This channel does not use Trendlines, EMA’s or divergence. You deserve better than that. I do use Fibonacci on H1 charts If you are student of a Forex trading training organisation or program, then this channel can help you to make sense of FX charts so you can understand them.
So, whatever training program you are doing this channel is designed to show you what your current trading organisation is or isn’t telling you.
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